6790. Western Farm Mortgage Company (Lawrence, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
February 6, 1892
Location
Lawrence, Kansas (38.972, -95.235)

Metadata

Model
gpt-5-mini
Short Digest
8de61419

Response Measures

None

Description

Multiple articles (Feb–Mar 1892) report court actions: restraining order, appointment of receivers in Denver (Feb 6, 1892) and in Kansas (receiver Edward Russell appointed March 7, 1892). No mention of depositor runs or temporary suspension/reopening—the company is in receivership (closed). Classified as suspension leading to closure (receivership) by court/government action.

Events (3)

1. February 6, 1892 Other
Newspaper Excerpt
Receivers Appointed for the Western Farm Mortgage and Trust Company. LAWRENCE (Kans.) Feb. 6.-Judge Shaw ... This suit is brought In view of attachments sued| out against the Western Farm Mortgage Company at Denver yesterday. DENVER, Feb. -The District Court this afternoon appointed G. W. E. Griffith receiver for the Western Farm Mortgage and Trust Company. The officers of the company say the embarrassment is only temporary.
Source
newspapers
2. March 7, 1892 Receivership
Newspaper Excerpt
On application of the eastern stockholders Judge Benson has appointed Hon. Edward Russell, of this city, receiver of the Western Farm Mortgage and Trust Co. Mr. Russell will take charge of the affairs of the company in Kansas, a receiver having already been appointed for Colorado.
Source
newspapers
3. March 7, 1892 Suspension
Cause
Government Action
Cause Details
Court actions and suit by stockholders; judge appointed a receiver (court-ordered receivership).
Newspaper Excerpt
A committee of the stockholders were present and all parties agreed on Edward Russell as receiver ... The committee hope to raise sufficient money ... to meet the present calls on the company, and so to take it out of the hands of the receiver and protect the interest of all parties.
Source
newspapers

Newspaper Articles (5)

Article from The Morning Call, February 7, 1892

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Article Text

RESTRAINING ORDER. Receivers Appointed for the Western Farm Mortgage and Trust Company. LAWRENCE (Kans.) Feb. 6.-Judge Shaw of Leavenworth, attorney for Abraham S. Brewer, and Charles Biddle of Pennsylvania and other stockholders, filed a suit in the District Court to-day against the Westein Farm Mortgage and Trust Company and the American Real-estate Trust Company of Denver, asking that they be restrained from disposing of their assets. The petition alleges that the officers of the various companies are manipulating business to the disadvantage of the stockholders. A temporary restraining order was issued by the court. This suit is brought In view of attachments sued| out against the Western Farm Mortgage Company at Denver yesterday. DENVER, Feb. -The District Court this afternoon appointed G. W. E. Griffith receiver for the Western Farm Mortgage and Trust Company. The officers of the company say the embarrassment is only temporary. NEW YORK, Feb. 6. - -The Western Farm Mortgage and Trust Company, which became embarrassed at Denver, has an office at 40 Wall street, in this city, where William T. Pratt has acted as manager for several years past. A few days ago the Sheriff received an execution against the company for $25,000 in favor of the Western National Bank on promissory notes of the San Luis Land and Water Company, which the trust company indorsed. When a Deputy Sheriff went to make the levy Pratt declared that the trust company had no property whatever in New York County, and that the office furniture and fixtures belonged to him, 80 there was nothing to attach. Eastern stockholders have been clamorous for some time past, as the dividends were passed lastyear, but the officials declared that they had changed the plan of paying interest and would not pay it until the interest on the mortgages had been collected. Last fall the company issued a statement of condition on June 30, 1891, which claims assets of $4,273,333 and liabilities of $2,539,817, exclusive of capital stock, $1,500,000, and/surplus and undivided profits of $233,821. The largest liabilities were $1,402,966 for debentures certified, $546,111 on bills payable and $3,796,078 on undivided deposits. The assets included real estate securities of $1,479,833, mortgages deposited as security for debentures. $1,726,328, and municipal and other stocks and bonds amounting to $608,974.


Article from The Wichita Daily Eagle, March 6, 1892

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Article Text

FAILURES. L AWRENCE, Kan. March 5-The affairs of the Western Farm Mortgage and Trust company were before the district court today A committee of the stockholders were present and all parties agreed on Kiward Russell as receiver The stockholders believe that the assets of the company, If prudently managed, will pay all its liabliitles, and to that end will soon call a meet ing of all parties interested in the east. The committee hope to raise sufficient money NOOD to meet the present calls on the compasy, and so to take it out of the hands of the receiver and protect the interest of all parties.


Article from Abilene Weekly Reflector, March 10, 1892

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Article Text

A Receiver Appointed. LAWRENCE, Kan., March 7.-On application of the eastern stockholders Judge Benson has appointed Hon. Edward Russeil, of this city, receiver of the Western Farm Mortgage and Trust Co. Mr. Russell will take charge of the affairs of the company in Kansas, a receiver having already been appointed for Colorado.


Article from Arizona Republican, March 11, 1892

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Article Text

The Western Mortgage Company. LAWRENCE, Kan., March 10.-The affairs of the Western Farm Mortgage Trust company were before court today. A committee of stockholders were present and all parties agreed on Edward Russell as receiver. The stockholders believe the assets of the company if prudently managed will pay all its liabilities and to that end will soon call a meeting of all parties interested in the east. The committee will raise sufficiant money soon to meet the present calls on the company, and so take it out of the hands of the receiver and protect the interest of all parties.


Article from The Iola Register, March 11, 1892

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Article Text

A Receiver Appointed. LAWRENCE, Kan., March 7.-On application of the eastern stockholders Judge Benson has appointed Hon. Edward Russell, of this city, receiver of the Western Farm Mortgage and Trust Co. Mr. Russell will take charge of the affairs of the compa y in Kansas, a receiver having already been appointed for Colorado.